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Question
A shopkeeper bought a TVfrom a distributor at a discount of 25% of the listed price of ₹ 32000. The shopkeeper sells the TV to a consumer at the listed price. If the sales tax (under VAT) is 6% at every stage, then choose the correct answer from the given four options :
VAT paid by the shopkeeper is
Options
₹480
₹1440
₹1920
₹8000
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Solution
Total VAT charged by the shopkeeper
= ₹32000 x `(6)/(100)`
= ₹1920
VAT already paid by distributor
= ₹ 1440
Net VAT paid by the shopkeeper
= ₹1920 – ₹1440
= ₹480.
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A wholesaler buys a computer from a manufacturer for ₹ 40000. He marks the price of the computer 20% above his cost price and sells it to a retailer at a discount of 10% on the marked price. The retailer sells the computer to a consumer at the marked price. If the rate of sales tax (under VAT) is 10% at every stage, then choose the correct answer from the given four options
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